Inflation is a key
macroeconomic indicator that reflects the overall price level in an economy.
通货膨胀是衡量一个经济体总体价格水平的关键宏观经济指标。
Monetary policy, set by central banks, is a key tool for managing
macroeconomic stability.
中央银行制定的货币政策是维护宏观经济稳定的关键工具。
The Gross Domestic Product (GDP) is the most widely used measure of a country's
macroeconomic performance.
国内生产总值(GDP)是衡量一个国家宏观经济表现最广泛使用的指标。
Unemployment rate is a crucial
macroeconomic variable that affects both economic growth and social welfare.
失业率是一个关键的宏观经济变量，它影响着经济增长和社会福利。
Fiscal policy, through government spending and taxation, influences
macroeconomic conditions.
财政政策通过政府支出和税收影响宏观经济状况。
External sector balance, such as trade balance, plays a significant role in a country's macroeconomy.
外部部门平衡，如贸易平衡，在一个国家的宏观经济中扮演重要角色。
Investment in infrastructure is often seen as a way to stimulate
macroeconomic growth.
基础设施投资通常被视为刺激宏观经济增长的一种方式。
Macroeconomic imbalances, like a large current account deficit, can lead to economic instability.
宏观经济失衡，如大的经常账户赤字，可能导致经济不稳定。
Interest rates have a profound impact on consumer spending, business investment, and hence, the overall
macroeconomic activity.
利率对消费者支出、企业投资以及整体宏观经济活动有深远影响。
Globalization has introduced new dimensions to
macroeconomic policy-making, making it more interconnected and complex.
全球化为宏观经济政策制定引入了新的维度，使其变得更加相互关联和复杂。
According to Jiang Jiang, an official with the Chinese Academy of Macroeconomic Research, the main composition of China's future industries is cutting-edge technologies such as new energy, artificial intelligence, biological manufacturing, low-carbon, and quantum computing, along with a large number of new business forms, new models and new industries derived from their applications.
中国宏观经济研究院官员姜江表示，中国未来产业的主要组成部分是新能源、人工智能、生物制造、低碳和量子计算等前沿技术，以及从这些技术的应用中衍生出的大量新业态、新模式和新产业。
Despite a challenging macroeconomic environment, he said that the company has maintained a "sound growth" here in the Chinese market over the past year and highlighted that the US company has developed an improved understanding of the Chinese market.
尽管宏观经济环境充满挑战，但他表示，过去一年，该公司在中国市场保持了“稳健增长”，并强调这家美国公司对中国市场的了解有所提高。
"More efforts will definitely be made to offer more content on generative AI to help more people become more competitive and innovative in this fast-moving macroeconomic environment," he added.
他补充道：“我们肯定会做出更多努力，提供更多关于生成人工智能的内容，帮助更多的人在这个快速变化的宏观经济环境中变得更有竞争力和创新能力。”。
Multinational corporations remain adamant about ramping up investment in the Chinese market as a result of the country's stepped-up efforts to push continuous progress in expanding opening-up, said Chang Xiuze, a professor at the Academy of Macroeconomic Research in Beijing.
北京宏观经济研究院教授常秀泽表示，由于中国加大力度推动扩大开放不断取得进展，跨国公司仍坚持加大对中国市场的投资。
Domestic brands are gaining popularity among Chinese consumers, especially the post-90s and post-00s generations, who have a growing sense of national pride and confidence in Chinese culture, along with the rapid development of the Chinese economy, said Wang Yun, a researcher at the Academy of Macroeconomic Research, affiliated with the National Development and Reform Commission.
国家发改委宏观经济研究院研究员王云表示，随着中国经济的快速发展，国产品牌在中国消费者中越来越受欢迎，尤其是90后和00后，他们对中国文化有着越来越强烈的民族自豪感和信心。
Guo Guannan, a researcher with the Chinese Academy of Macroeconomic Research, said the latest economic indicators point to a continued recovery trend, showcasing the strong resilience and great potential of China's economy.
中国宏观经济研究院研究员郭冠南表示，最新的经济指标显示出持续复苏的趋势，显示出中国经济的强大韧性和巨大潜力。
Qualcomm said in a statement: "As we said during our third quarter earnings call and in our 10Q filing in August, given the continued uncertainty in the macroeconomic and demand environment, we expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities.
高通公司在一份声明中表示：“正如我们在第三季度电话财报会议和8月份提交的第10季度报告中所说，鉴于宏观经济和需求环境的持续不确定性，我们预计将采取额外的重组行动，以继续投资于关键的增长和多元化机会。
With the optimization of COVID-19 response measures, the confidence of both consumers as well as market entities has been further boosted, said Wang Yun, a researcher at the Academy of Macroeconomic Research, which is affiliated with the National Development and Reform Commission, the country's top economic regulator.
隶属于国家最高经济监管机构国家发展和改革委员会的宏观经济研究院研究员王云表示，随着新冠肺炎应对措施的优化，消费者和市场主体的信心进一步增强。
Executives shared current situations related to production, operations and problems hindering development, and gave feedback on the implementation of macroeconomic policies.
高管们分享了当前与生产、经营和阻碍发展的问题有关的情况，并就宏观经济政策的实施情况进行了反馈。
Zheng Shanjie, head of the NDRC, said the feedback from private players on macroeconomic policies and their recommendations based on practical experience serve as an important reference for the research and formulation of macro policies.
国家发改委主任郑善杰表示，民营企业对宏观经济政策的反馈意见及其根据实践经验提出的建议，对研究和制定宏观政策具有重要参考意义。
The sector will remain a major focus of macroeconomic policies this year.
该部门仍将是今年宏观经济政策的主要重点。
Infrastructure investment will still be a focus of macroeconomic policies this year.
基础设施投资仍是今年宏观经济政策的重点。
In a letter to all LinkedIn employees, the company's CEO Ryan Roslansky said InCareer "encountered fierce competition and a challenging macroeconomic climate".
在致领英全体员工的一封信中，该公司首席执行官Ryan Roslansky表示，InCareer“遇到了激烈的竞争和充满挑战的宏观经济环境”。
While the industry faces significant macroeconomic pressures, Lenovo said it sees long-term opportunities ahead as the global trends of digitalization and intelligent transformation continue accelerating and IT spending is expected to recover to a moderate growth rate in the mid-to long-term.
尽管该行业面临着巨大的宏观经济压力，但联想表示，随着全球数字化和智能化转型趋势的不断加速，以及it支出预计将在中长期恢复到温和增长率，联想看到了未来的长期机遇。
While the industry faces significant macroeconomic pressures, Lenovo said it sees long-term opportunities ahead as the global trends of digitalization and intelligent transformation continue accelerating and IT spending is expected to recover to a moderate growth rate in the mid-to-long term.
尽管该行业面临着巨大的宏观经济压力，但联想表示，随着全球数字化和智能化转型趋势的不断加速，以及it支出预计将在中长期恢复到温和增长率，联想看到了未来的长期机遇。
According to Xu, looking to 2023, the macroeconomic environment may be rife with uncertainty, but what the company can be certain about is that digitalization and decarbonization are the way forward.
徐表示，展望2023年，宏观经济环境可能充满不确定性，但该公司可以肯定的是，数字化和脱碳是前进的方向。
Amid global turbulence, companies and their CEOs should study the macroeconomic trend or industrial landscape to make top-down changes.
在全球动荡中，公司及其首席执行官应该研究宏观经济趋势或行业格局，以做出自上而下的改变。
According to a recent survey conducted by the China Council for the Promotion of International Trade, foreign-funded companies in the country remain upbeat about the Chinese market and speak well of its business environment and macroeconomic policies.
中国国际贸易促进委员会最近进行的一项调查显示，在华外资企业对中国市场仍持乐观态度，对中国的商业环境和宏观经济政策评价良好。
Foreign companies are investing in China mainly due to its market potential, expanding domestic demand, the country's strong economic resilience and dedication to continued opening-up, said Yang Changyong, a researcher at the Academy of Macroeconomic Research at the National Development and Reform Commission.
国家发展和改革委员会宏观经济研究院研究员杨昌勇表示，外国公司之所以在中国投资，主要是因为中国的市场潜力、不断扩大的内需、中国强大的经济韧性和持续开放的决心。
Another point they might ponder in the near term is how global companies could achieve better growth in China in an increasingly complex global geopolitical and macroeconomic environment.
他们近期可能会思考的另一点是，在日益复杂的全球地缘政治和宏观经济环境中，全球公司如何在中国实现更好的增长。
According to a recent survey conducted by the China Council for the Promotion of International Trade, foreign-funded companies in China remain upbeat about the Chinese market and speak well of China's business environment and macroeconomic policies.
中国国际贸易促进委员会最近进行的一项调查显示，在华外资企业对中国市场仍持乐观态度，对中国的营商环境和宏观经济政策评价良好。
The surveyed enterprises have generally high satisfaction with the country's macroeconomic and regulatory policies, according to a report on China's business environment in Q1 2022 by China Council for the Promotion of International Trade.
中国国际贸易促进委员会发布的2022年第一季度中国营商环境报告显示，受访企业对国家宏观经济和监管政策总体满意度较高。
As a pilot digital project, the power network in Guangdong allows the digital power network to support macroeconomic analysis, environmental management and poverty alleviation enhancement in Guangdong province.
作为一个试点数字项目，广东电网允许数字电网支持广东省的宏观经济分析、环境管理和扶贫工作。
"There are so many lingering factors impacting oil prices, such as geopolitical, macroeconomic factors, policy implementation of OPEC+ and the strength of the greenback.
“影响油价的因素很多，如地缘政治、宏观经济因素、欧佩克+的政策实施和美元走强。
In around one year's time, Tencent shares dropped from more than $HK750 and once tumbled to below HK$300 earlier this month, due to an array of complexities including Beijing's antitrust campaigns and global macroeconomic uncertainties.
在大约一年的时间里，由于北京的反垄断行动和全球宏观经济的不确定性等一系列复杂因素，腾讯的股价从750港元以上跌至本月早些时候的300港元以下。
Fu Baozong, a professor at the Academy of Macroeconomic Research under the National Development and Reform Commission, said that notable revenue growth by centrally administered SOEs will better help them play an important role in bolstering economic growth this year.
国家发展和改革委员会宏观经济研究院教授傅宝宗表示，中央管理的国有企业收入的显著增长将更好地帮助它们在今年的经济增长中发挥重要作用。
"China is an attractive market because of its optimized economic structure and reliable macroeconomic fundamentals, as well as the potential of long-term growth in the healthcare market, he said.
“中国是一个有吸引力的市场，因为其优化的经济结构和可靠的宏观经济基本面，以及医疗保健市场的长期增长潜力，”他说。
The company reported its online advertising services revenue decreased 10 percent to 1.7 billion yuan in the third quarter, primarily due to less premium content launched during the quarter and challenging macroeconomic environment in China.
该公司报告称，第三季度其在线广告服务收入下降了10%，至17亿元，主要是由于该季度推出的优质内容较少，以及中国宏观经济环境的挑战。
It showcased China's immense consumption potential and the economy's strong resilience in the face of challenges brought by COVID-19," said Wang Yun, a researcher with the Academy of Macroeconomic Research.
它展示了中国巨大的消费潜力和经济在面对新冠肺炎带来的挑战时的强大韧性，”宏观经济研究院研究员王云表示。
Experts said the steady economic prospects will continue to boost the corporate earnings of listed companies in the remainder of the year, with cyclical sectors, or shares most sensitive to macroeconomic conditions, new energy, and semiconductors likely to remain the potential outperformers.
专家表示，稳定的经济前景将继续提振上市公司本年度余下时间的企业收益，其中周期性行业（即受宏观经济状况影响最大的股票）、新能源以及半导体可能继续保持为潜在的优胜者。
PetroChina has firmly seized the favorable opportunities provided by the macroeconomic recovery, the growth in demand for oil and gas products, and the rebound in crude oil prices, and continued to optimize production and operation, read the report.
报告称，中国石油牢牢抓住宏观经济复苏、油气产品需求增长、国际油价回升的有利时机，持续优化生产经营。
The performance in China is 16 percent higher compared with a year earlier, despite the very challenging macroeconomic situation, especially during the first half.
尽管宏观经济环境尤其在上半年极具挑战，但中国地区的表现仍比去年同期高出16%。
Voser also said he was bullish on the long-term macroeconomic outlook for the world's second largest economy.
沃瑟也表示，他对全球第二大经济体的长期宏观经济前景持乐观态度。
PetroChina Company Limited announced on Thursday that the company's operating results has achieved the best quarterly performance in the past 7 years, amid the backdrop of macroeconomic recovery and demand rebound in the oil and gas market.
中国石油天然气股份有限公司周四宣布，得益于宏观经济复苏和油气市场需求反弹，公司运营成绩达到过去7年来最佳季度表现。
China Daily spoke to senior executives from multinational corporations to get their views on key macroeconomic policies, potential growth opportunities, and how their businesses can benefit from and contribute to a more prosperous China.
《中国日报》采访了多位跨国公司的高层管理人员，了解他们对关键宏观经济政策、潜在增长机会的看法，以及他们的企业如何从一个更繁荣的中国中受益并做出贡献。
"Baidu ended 2020 on a solid note with our business benefiting from improving macroeconomic environment and the digitalization of industrial internet.
“百度在2020年底表现稳健，我们的业务受益于宏观经济环境的改善和工业互联网的数字化进程。”
"Baidu ended 2020 on a solid note with our business benefiting from improving macroeconomic environment and the digitalization of industrial Internet," said Robin Li, co-founder and CEO of Baidu.
“百度在2020年以坚实的成绩收官，我们的业务受益于宏观经济环境的改善和工业互联网的数字化趋势，”百度创始人、首席执行官李彦宏表示。
Based on its role in implementing macroeconomic regulatory policy, Sinograin－supported by more than 40,000 employees and 30 subsidiaries－undertakes the tasks of grain and oil procurement, sales, allocation and storage.
It added 350,000 pieces of data last year to its Datastream product to provide macroeconomic data from China to the county level, said Chen.
Our leaner financial model and strong balance sheet put us in a good position to weather the slowing macroeconomic situation, while continuing to invest heavily in technology and new businesses, to optimize future growth," said Herman Yu, CFO of Baidu.
As one of China's most economically active, open and innovative regions, the Yangtze River Delta boasts strategic significance in the country's modernization and further opening-up, which makes its regional integration crucial for leading the country's high-quality development and for developing a modernized economy, said Wu Xiaohua, vice-president of the Academy of Macroeconomic Research of the National Development and Reform Commission.
From our point of view, the most resilient part of the Chinese economy is its solid and sound macroeconomic foundation.
We have established certain business foundations in these countries, but our business is still facing great pressure and difficulties due to the exchange rate and the macroeconomic environment.
Brian Yiu, CEO of FILA China, said the brand will continue to be a key revenue earner for Anta Group, though its earnings may still be lower than the Anta brand, on account of slower store openings in the second half of the year due to a changed macroeconomic environment.
The transformed macroeconomic environment is pushing companies to shift from traditional merger and acquisition-based growth to more organic, green-field investment, and that makes a "clearly-defined brand" a necessity, he added.
他补充道，转变中的宏观经济环境正促使企业从传统的基于并购的增长模式转向更多元、更依赖于绿色项目的有机投资，这使得“明确界定的品牌”成为一种必需。
Online advertising services and content distribution revenues fell 16 percent and 4 percent year-on-year respectively, mainly due to the macroeconomic environment in China, the delay of certain content launches and slower-than-expected recovery of in-feed advertising, the company said.
"Online advertising service revenue was 2.2 billion yuan in the second quarter, down 16 percent year-on-year mainly due to the challenging macroeconomic environment in China, content launch delays and slower-than-expected recovery of its in-feed advertising, the company explained.
He said the company did see some markets as being "a little bit down" but this was caused mainly by slowing global trade, and the macroeconomic environment will not affect the company's commitment to invest further in China.
It will be challenging for many businesses, given the macroeconomic environment in 2019.
The central government has launched many macroeconomic tools to solve the problem.
Jia Mo, a research analyst with technology consultancy Canalys, said Apple's failure to meet the original forecast is a complex result of the macroeconomic situation, competition from Chinese players and the US company's missteps in pricing strategy.
In terms of management, operations and marketing, we have leveraged our growth in the market economy, rather than depending on the planned economy model, with support and guidance from the country's macroeconomic policies.
Peng said central SOEs' emerging industries and new products and types of businesses have been driven by sound macroeconomic fundamentals, enabling them to develop rapidly in the first quarter.
China has always actively invested in technological advancement and innovation to bolster macroeconomic growth and improve people's lives.
Formed in 2011, the research team adopted a bottom-up investment approach that requires analysts to look for investment opportunities by reviewing corporate fundamentals, such as a company's management and profitability, in addition to analyzing the macroeconomic situation.
成立于2011年的研究团队采取了自下而上的投资策略，要求分析师在分析宏观经济状况的同时，通过深入审查公司基本面，如企业管理层素质和盈利能力，来寻找投资机会。
Product sales dropped due to insufficient downstream demand affected by macroeconomic and industry environment.
Urbanization and continued improvement in China's macroeconomic conditions are collectively enhancing Chinese families' willingness and ability to invest in early childhood education, which will give RYB great growth opportunities, she added.
According to BMI Research, which provides macroeconomic, industry and financial market analysis, nuclear power capacity in China increased by 8 gW last year, boosting the installed capacity to around 34 gW.
China increased its nuclear power capacity last year by another 8 GW, boosting its installed capacity to around 34 GW, according to BMI Research, which provides macroeconomic, industry and financial market analysis.
"China's manufacturing sector and the broader economy are likely to continue steady growth on the back of favorable macroeconomic conditions and rebounding foreign markets demand," investment bank China International Capital Corporation said in a research note.
"Support from macroeconomic policies is set to intensify," Wang said.
"Kang Yi, head of the NBS, said on Wednesday that the country has ample room for boosting macroeconomic policy support given that the levels of government debt and inflation are relatively low, after the tone-setting Central Economic Work Conference held in December called for efforts to strengthen macroeconomic policy adjustments.
As domestic consumption turns for the better, coupled with the gradual return to balance between supply and demand, a potential rebound in overall price levels is anticipated in 2024, said Zhou Maohua, a macroeconomic researcher at China Everbright Bank.
To ensure a sustained momentum of economic growth, the People's Bank of China, the central bank, is likely to utilize various measures to support the real economy since it has previously signaled its intention to adjust macroeconomic policies when needed, Zhou added.
Zou Yunhan, deputy director of the macroeconomic research office at the State Information Center's Department of Economic Forecasting, said China remains one of the most powerful engines for global growth, contributing around one-third of world economic growth in 2023.
A number of foreign institutions have made a macroeconomic outlook for China in 2024.
Zhou Maohua, a macroeconomic researcher at China Everbright Bank, said China's consumer prices tumbled in some months of 2023 due to fluctuations in food prices, declining crude oil prices and a high base effect.
"It has become clearer that more efforts are expected to be made to encourage companies to achieve breakthroughs in key technologies like chips and overcome other technical bottlenecks this year, amid intensified global competition and geopolitical uncertainties," said Hong Qunlian, a researcher at the National Development and Reform Commission's Academy of Macroeconomic Research.
Yue's views were echoed by Zhou Maohua, a macroeconomic researcher at China Everbright Bank, who called for further steps to support the development of hard-hit SMEs, saying more efforts should be made to promote a more balanced recovery.
The tone-setting Central Economic Work Conference, held in December, decided to ensure stable and sound development of the real estate market, and strengthen macroeconomic adjustments as part of the efforts to consolidate and promote the positive momentum of economic recovery.
It is time for policymakers to adopt a more proactive stance, so that macroeconomic policies effectively prevent noneconomic policies from causing any restrictions on economic activity, Li said at the 46th Tsinghua University Forum of China and the World Economy, hosted by the think tank.
Zhang Bin, deputy director of CASS' Institute of World Economics and Politics, said measures aimed at stabilizing the real estate sector are now the "No 1 policy" for macroeconomic stability, as the sector has overshot to the downside, dragging down overall demand.
Kristina Hooper, chief global market strategist at Invesco, a worldwide investment management company, said she is positive about the performance of Chinese equities this year, as more macroeconomic support looks to be forthcoming.
Experts say consumption will remain primary driver of economy in 2024China's economy is set to maintain robust and steady growth in 2024 as domestic demand further recovers, driven by ramped-up macroeconomic policy support and the deepening of industrial upgrading, senior experts said.
The tone-setting Central Economic Work Conference, which was held in December, highlighted expanding domestic demand as a focus in 2024, calling for efforts to intensify macroeconomic policy adjustments, tap consumption potential and expand effective investment.
With more macroeconomic policy support likely, China's A-share market rallied at the end of 2023, led by the new energy and electronics sectors, with the benchmark Shanghai Composite Index up by three consecutive days to 2,974.93 points as of Friday's close, the last trading session of 2023.
"China needs to strengthen countercyclical and cross-cyclical adjustments in macroeconomic policies and continue to implement a proactive fiscal policy, to intensify fiscal policy effort while improving policy quality and efficiency," the meeting said.
This has also consolidated the groundwork for the internationalization of the Chinese currency, said Zhou Maohua, a macroeconomic researcher at China Everbright Bank.
In the next step, the NDRC will closely monitor changes in economic operations, strengthen situation analysis and policy research, and intensify macroeconomic regulation.
Analysts, both domestic and foreign, foresee a promising outlook for China's macroeconomic stability, expecting increased investment, sustained consumer recovery and potential export improvements, the Securities Daily reported on Tuesday.
Their upbeat feeling toward China's economic growth in 2024 is based on key macroeconomic data released by the National Bureau of Statistics for November, which showcased encouraging year-on-year growth rates across various sectors.
Both the structural and cyclical policies need to be implemented to foster economic growth in 2024, said Zhang Wenlang, chief macroeconomic analyst with investment bank China International Capital Corp.
During the next step, the NDRC will closely monitor changes in economic operations, strengthen situation analysis and policy research, and intensify macroeconomic regulation.
Meanwhile, there is a need to strengthen and improve macroeconomic regulation by implementing proactive fiscal policies and prudent monetary policy while strengthening the innovation and coordination of policy tools, the office said.
Implementing these macroeconomic policies and strengthening the consistency of policy orientation will help expand aggregate demand, effectively upgrade the quality and expand the country's economic output, it said.
Making the best of both domestic and international markets and resources, actively participating in global economic and financial governance, and strengthening coordination of macroeconomic policies among major economies are all necessary steps to strike a delicate balance between increasing openness and preventing and controlling risks.
The country will strengthen macroeconomic regulation, and more efforts will be made to boost economic vitality, prevent and mitigate risks, improve social expectations, consolidate and promote the momentum of economic recovery, and effectively improve the quality of the economy and promote its growth within a reasonable range, according to the NBS.
"Macroeconomic policy easing has been supporting the recovery in the short term," said Mara Warwick, World Bank country director for China, Mongolia and South Korea.
China has ample space in macroeconomic policies to buffer short-term pressures, said Han Wenxiu, an official with the office of the Central Committee for Financial and Economic Affairs, on Wednesday.
Central Economic Work Conference stresses progress, demand boostChina's macroeconomic policy is set to amplify support in 2024, a high-profile meeting said on Tuesday, which experts said appears to signal proactive fiscal expansion in 2024 and more measures to reduce interest rate levels may be on the horizon.
Notably, there are some highlights in economic operations this year, characterized by fluctuating recovery, deviations from traditional economic recovery patterns, notable economic disparities, and a stark contrast between macroeconomic and microeconomic perceptions.
Detailed recommendations include prioritizing market-oriented reforms, emphasizing short-term countercyclical policies, and maintaining overall macroeconomic stability.
The remarks came ahead of the annual Central Economic Work Conference, which is usually convened in December to map out economic development priorities and set the tone for macroeconomic policy the following year.
With overseas markets entering the traditional peak retail season in December and January, coupled with the low base effect, China's export growth rate is expected to maintain its expansion, said Zhou Maohua, a macroeconomic researcher at China Everbright Bank.
The economic regulator listed several favorable conditions and supporting factors, including China's enormous market demand, a complete industrial system, deepening reform and opening-up, and a flexible space for macroeconomic policy adjustment.
Song Liyi, a researcher of the Academy of Macroeconomic Research, said, "The long-term development potential of the country's economy should not be underestimated, as the country's economic development has not only gained momentum in quantitative growth, but also improved qualitatively.
"The rating agency's understanding of how the Chinese economy works and how the Chinese government functions is not deep enough and does not reflect the reality," said Feng Qiaobin, deputy director of macroeconomic research at the Development Research Center of the State Council.
They made the remarks ahead of the Central Economic Work Conference, which is usually convened every December to map out economic development priorities and set the tone for macroeconomic policy next year.
Feng Lin, a senior analyst at Golden Credit Ratings, said the fiscal deficit rate will stand around 3.5 percent next year, as stronger macroeconomic policies are expected to stabilize the economy.
This has been repeatedly proven in practice in dealing with negative externalities, such as environmental pollution, time lag in macroeconomic policy implementation, difficulty in coordinating different policies, and the elimination of market monopolies.
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